Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199,138 shares of the coffee company’s stock after purchasing an additional 76,933 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Starbucks worth $78,831,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Starbucks by 4.5% during the first quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock worth $5,541,310,000 after acquiring an additional 3,614,642 shares during the period. Magellan Asset Management Ltd grew its position in shares of Starbucks by 12.5% in the 4th quarter. Magellan Asset Management Ltd now owns 32,036,678 shares of the coffee company’s stock valued at $2,816,665,000 after acquiring an additional 3,553,788 shares during the period. Geode Capital Management LLC increased its position in Starbucks by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 18,603,871 shares of the coffee company’s stock worth $1,633,457,000 after buying an additional 161,755 shares during the last quarter. FMR LLC lifted its holdings in Starbucks by 0.9% during the 4th quarter. FMR LLC now owns 16,406,630 shares of the coffee company’s stock valued at $1,442,471,000 after purchasing an additional 144,675 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Starbucks during the fourth quarter worth approximately $1,092,239,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
In other news, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total transaction of $140,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total transaction of $267,833.48. Following the sale, the director now owns 22,728 shares of the company’s stock, valued at $1,431,636.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,504 shares of company stock worth $726,546. 0.41% of the stock is owned by corporate insiders.
Shares of NASDAQ SBUX traded down $1.45 during mid-day trading on Tuesday, reaching $76.87. 3,261,915 shares of the company were exchanged, compared to its average volume of 9,535,118. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $99.72. The company’s 50 day moving average price is $75.83 and its 200 day moving average price is $80.55. The stock has a market capitalization of $91.12 billion, a PE ratio of 27.87, a PEG ratio of 4.53 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.85 billion. Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Equities analysts anticipate that Starbucks Co. will post 1.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, May 7th. Starbucks’s dividend payout ratio is currently 57.95%.
A number of research analysts have issued reports on SBUX shares. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research report on Tuesday, May 5th. Argus reduced their price target on Starbucks from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Barclays decreased their price target on Starbucks from $97.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. KeyCorp boosted their price target on Starbucks from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Credit Suisse Group reissued a “buy” rating and set a $82.00 target price on shares of Starbucks in a research note on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.77.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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